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Pound Surges on Optimism a Brexit Trade Accord May Be Close

Pound Advances as Britain and EU Reach Outline of Brexit Pact Bloomberg 12/24/2020 William Shaw, Vassilis Karamanis and James Hirai (Bloomberg) A trading deal the City of London has sweated over for almost half a decade looks like it’s finally here eliciting a cheer across U.K. assets. With Britain forging the blueprint of a deal with the European Union, the pound rose 0.5% to $1.3562 in Asian trading Thursday after advancing 1% the previous session. The yield on 10-year government bonds jumped as much as 13 basis points to 0.31% on Wednesday, the biggest intra-day increase since March. © Bloomberg Pound jumps on optimism Brexit deal is imminent

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